Nordstrom Company Analysis Essay
Table of Content
Abstract 3
Company Background and Basic Facts 4
Vision, mission and goals 5
Structure 6
External Environment 7
Management Change 11
Cultural and Ethical Values and Practices 12
Workforce diversity 15
Management of Training 16
Unique Practices 17
Nordstrom’s Leadership Style 17
Recommendation 20
References 21
Abstract
Nordstrom is a leading upscale fashion retailer in the United States. In this essay, our team will present an organizational analysis for Nordstrom from different aspects including company mission and goals, organization structure including the use of teams, business environment, management of change, organizational culture and ethical values, management training, and leadership styles. Then …show more content…
John W. Nordstrom, who came to the United States from Sweden at the age of 16 with only five dollars in his pocket and no English at all, Nordstrom has grown into a global fashion specialty chain with its focus on customer services. (Company History) Today, Nordstrom’s two reportable segments include Retail and Credit. In the Retail segment, there are a total of 242 Nordstrom stores in 31 states, including 117 full-line stores, 121 off-price Nordstrom Racks, two Jeffery Boutiques, treasure & bond and one clearance store, and not to mention Nordstrom’s fastest-growing online business through Nordstrom.com. And through these multiple retail channels, Nordstrom is always trying the best to make its customers’ shopping experience convenient and fun by offering a wide selection of high-quality brand name and private label merchandise focusing on clothing, shoes, accessories, cosmetics, and, of course, a range of services. The Credit segment includes Nordstrom’s wholly owned federal saving bank, two Nordstrom VISA cards and a debit card. This segment was established to strengthen customer relations by a shopping-based loyalty program that will increase customer visits and spending. The company also generates revenues from the Credit segment by financial charges from the cards and other fees that occurred from the Retail segment. (Company Annual Report, …show more content…
Nordstrom set up his business approach to bring customers exceptional selection, quality and value. This mission hasn’t changed after over 100 years of operations. In this highly competitive business environment, Nordstrom believes that the keys to competing in its industry are customer services and creating a great customer experience in store and online, which includes compelling price and value, fashion newness, quality of products, selection, convenience, technology, product fulfillment, service and stores in top locations.
"Here at Nordstrom, our people and their enthusiasm for service make all the difference.” (Our Culture) Due to the seasonal nature of the business, Nordstrom employees approximated 61,000 employees on a full- or part-time basis, and employment increases in July and December due to its Anniversary Sales and holidays. (Company Annual Report, 2013) Nordstrom believes that the best way to provide extraordinary customer service is by ensuring that its employees reflect the community they serve. Among Nordstrom’s entire employee population, 42% are people of color and 72% are women. (Diversity at
Abstract 3
Company Background and Basic Facts 4
Vision, mission and goals 5
Structure 6
External Environment 7
Management Change 11
Cultural and Ethical Values and Practices 12
Workforce diversity 15
Management of Training 16
Unique Practices 17
Nordstrom’s Leadership Style 17
Recommendation 20
References 21
Abstract
Nordstrom is a leading upscale fashion retailer in the United States. In this essay, our team will present an organizational analysis for Nordstrom from different aspects including company mission and goals, organization structure including the use of teams, business environment, management of change, organizational culture and ethical values, management training, and leadership styles. Then …show more content…
John W. Nordstrom, who came to the United States from Sweden at the age of 16 with only five dollars in his pocket and no English at all, Nordstrom has grown into a global fashion specialty chain with its focus on customer services. (Company History) Today, Nordstrom’s two reportable segments include Retail and Credit. In the Retail segment, there are a total of 242 Nordstrom stores in 31 states, including 117 full-line stores, 121 off-price Nordstrom Racks, two Jeffery Boutiques, treasure & bond and one clearance store, and not to mention Nordstrom’s fastest-growing online business through Nordstrom.com. And through these multiple retail channels, Nordstrom is always trying the best to make its customers’ shopping experience convenient and fun by offering a wide selection of high-quality brand name and private label merchandise focusing on clothing, shoes, accessories, cosmetics, and, of course, a range of services. The Credit segment includes Nordstrom’s wholly owned federal saving bank, two Nordstrom VISA cards and a debit card. This segment was established to strengthen customer relations by a shopping-based loyalty program that will increase customer visits and spending. The company also generates revenues from the Credit segment by financial charges from the cards and other fees that occurred from the Retail segment. (Company Annual Report, …show more content…
Nordstrom set up his business approach to bring customers exceptional selection, quality and value. This mission hasn’t changed after over 100 years of operations. In this highly competitive business environment, Nordstrom believes that the keys to competing in its industry are customer services and creating a great customer experience in store and online, which includes compelling price and value, fashion newness, quality of products, selection, convenience, technology, product fulfillment, service and stores in top locations.
"Here at Nordstrom, our people and their enthusiasm for service make all the difference.” (Our Culture) Due to the seasonal nature of the business, Nordstrom employees approximated 61,000 employees on a full- or part-time basis, and employment increases in July and December due to its Anniversary Sales and holidays. (Company Annual Report, 2013) Nordstrom believes that the best way to provide extraordinary customer service is by ensuring that its employees reflect the community they serve. Among Nordstrom’s entire employee population, 42% are people of color and 72% are women. (Diversity at